Investment and Financial Risk Management MSc

Why choose this course?

Investment and financial risk is a highly competitive sector and our course will give you the IT and research skills that employers demand.

This rigorous and intensive masters course is designed to produce high-calibre, analytical graduates with practical skills who are ready to slot in to a specialised role. As a graduate, you will be ready to work in investment, trading, financial analysis, fund management, banking, financial services, finance and financial consultancy.

The course is an extremely practical programme using real examples, the latest research and theories, and live data.

This course is suitable for both experienced corporate finance and financial management practitioners who want to add to their skills, and those looking for a career in the area.

Mode Duration Attendance Start date
Full time 1 year 1–4 days per week September 2020
Full time 2 years including professional placement 1–4 days per week plus placement year September 2020
Location Kingston Hill

Reasons to choose Kingston University

  • Kingston Business School is one of only five per cent of the world's business schools to be accredited by AACSB International.
  • The course offers exemptions from the professional exams of the Association of Corporate Treasurers (ACT). There is also the chance to gain qualifications such as Bloomberg certification, or prepare for the Chartered Financial Analyst (CFA) credential (many aspects are covered by the course).
  • We are one of the few UK universities with a Bloomberg trading room, offering hands-on skills. You may also use Thomson DataStream Advance.
  • Free car parking at the Kingston Hill campus is available for students of this course. The campus can also be easily accessed by public transport. Halls accommodation is just a walk away from the classrooms.

Kingston Business School Accreditations

Kingston Business School holds the prestigious international accreditation by the AACSB (Association to Advance Collegiate Schools of Business) in recognition of the excellence of its business education. This accreditation has been earned by just 5% of the world's business schools and recognises the high quality and standard of our business degree offering.

Kingston Business School Accreditations

Accreditation

This course is accredited by the Association of Corporate Treasurers (ACT).

This course is accredited by the Association of Corporate Treasurers (ACT).

This course is accredited by the Association of Corporate Treasurers (ACT).

Upon completion of module Risk Financing (BA7101) you will gain exemptions from the Certificate in Treasury units; Unit 3: Corporate finance and Unit 5: Risk analysis and management. You would then be required to complete three further units to complete the CertT.

This accreditation is renewed on an annual basis.

 

What you will study

This course is underpinned by the latest research and best practice. Modules have been developed to provide you with up-to-date and relevant knowledge of accounting, finance and research methods.

Each module is designed to develop the skills valued by employers, such as presentation, team work, problem solving and communication skills.

We teach an extremely practical programme using real-life examples, live data and the latest research and theories. You will get the opportunity to create and manage investment portfolios and present the results, learn to use a Bloomberg trading room and industry standard databases, and undertake a research project.

You will examine the key issues in investment banking and trading. You will also learn to apply various different techniques in practice. We will show you how to analyse and explore a number of different topics using a balance of qualitative and quantitative methods.

Year 1 is made up of seven core modules and a research project.

 

Year 1: Teaching block 1

Year 1: Teaching block 2

Year 1: Teaching block 3

Year 2 (optional)

Core modules

Corporate Finance and Financial Statement Analysis

30 credits

This module will be especially useful for students interested in careers in the corporate or financial services sectors, as well as those interested in working as financial advisers, consultants or analysts. It will teach you about a unique combination of major contemporary theoretical and empirical developments in corporate finance, and the analysis and valuation of companies from both an accounting and financial perspective. The corporate finance section will help develop your critical knowledge and understanding of the core theories and concepts in the field of corporate finance. It aims to develop your ability to apply this knowledge and understanding in real corporate cases. The financial statement analysis section will develop your critical knowledge and understanding of accounting principles, and enable you to analyse financial statements and reports using financial ratios and other metrics. You will assess corporate profitability and financial stability, and learn to critically evaluate the corporate reporting choices.

Financial Modelling and Research Methods

30 credits

The Financial Modelling and Research Methods module is a core module for the postgraduate modular finance scheme. The module has two parts. The first part provides an underpinning and understanding of numerical techniques used in the business and finance world to aid strategic decision making. It aims to provide students with the accounting, mathematical and statistical foundations that are necessary in the areas of accounting and finance. The second parts deals with an understanding of research methodology and the research methods and skills that the students will need to complete their research project successfully during the summer period.

Portfolio Theory and Investment Banking

30 credits

During this module, you will gain a thorough understanding of modern portfolio theory and its implications for asset pricing, asset management, and investment decisions associated with risk management. The main topics covered include:

  • portfolio diversification;
  • optimal portfolio construction;
  • expected utility theory;
  • capital asset pricing model;
  • arbitrage pricing theory with application;
  • the formulation and implementation of various active and passive investment strategies; and
  • the analysis and management of risks associated with particular strategies.

This module also looks at the different types of investment banks and the strategies they employ. You will cover:

  • investment banks;
  • private equity investment - types and techniques;
  • debt and equity underwriting by investment banks;
  • trading techniques;
  • mergers and acquisitions;
  • securitisation;
  • hedge funds;
  • mutual funds and other funds; and
  • wealth management, and clearance and settlement.

You will construct and manage investment portfolios for a specific period and present the results. You will use the dedicated Bloomberg Trading Room and software packages to develop your practical experience of industry standard systems and use real, live data.

Risk Financing

15 credits

This module explores the selection, implementation, and monitoring of risk financing techniques – the ways in which an organisation can obtain funds to pay for any critical or accidental losses. This module develops your critical awareness of risk within institutions and in a wider social context. Topics include:

  • framework for risk financing;
  • criteria for risk financing technique selection;
  • insurance and reinsurance;
  • financing property,
  • net income and personnel losses;
  • accounting and income tax aspects of accidental losses;
  • insurance pricing;
  • selection of insurers and their representatives;
  • implementing risk retention-available options including use of affiliated insurers; and
  • risk cost allocation.
Bank Financial Risk Management

15 credits

The module aims to develop a critical awareness of financial risk within financial institutions and in a wider context. It will begin with an analysis of financial institutions, and then build upon this foundation by analysing the measurement of key risks to which financial institutions are exposed. This will include a detailed analysis of credit, liquidity, interest rate and market risk. The module will then consider management issues including: the role of capital; liability and liquidity management and product diversification. It will finish by analysing the banks utilisation of the financial markets in risk management. The course has a substantial quantitative component but also provides intuition needed to understand the fundamental mathematics of bank financial risk management. The module will provide candidates with the computer and research skills required by employers in this highly competitive sector. There will be also a programme of guest lecture from banking and financial services sector experts

Core modules

Financial Engineering

15 credits

This module will help you develop a broad understanding of the nature of derivative securities and how they are used by banks and other financial institutions. Initially you will learn about derivative securities; you will then look at the valuation methods available and the mathematics behind derivatives valuation. You will look at numerical schemes such as the binomial lattice to value derivative securities, and focus on market calibration of alternative derivative models and how these models can be fitted to observed derivative prices. The module finishes by focussing on risk management in terms of market risk and credit risk.

Fixed Income Analysis

15 credits

This module focuses on the issues involved in managing a fixed income portfolio. It gives you a broad understanding of the nature of fixed income securities and how they can be used by banks and other financial institutions. You will start by examining fixed income securities markets, then move on to look at the valuation and pricing methods available and the mathematics behind them. You will also cover term structure analysis and the use of derivative instruments in bond portfolio management.

Corporate Finance and Financial Statement Analysis

30 credits

This module will be especially useful for students interested in careers in the corporate or financial services sectors, as well as those interested in working as financial advisers, consultants or analysts. It will teach you about a unique combination of major contemporary theoretical and empirical developments in corporate finance, and the analysis and valuation of companies from both an accounting and financial perspective. The corporate finance section will help develop your critical knowledge and understanding of the core theories and concepts in the field of corporate finance. It aims to develop your ability to apply this knowledge and understanding in real corporate cases. The financial statement analysis section will develop your critical knowledge and understanding of accounting principles, and enable you to analyse financial statements and reports using financial ratios and other metrics. You will assess corporate profitability and financial stability, and learn to critically evaluate the corporate reporting choices.

Financial Modelling and Research Methods

30 credits

The Financial Modelling and Research Methods module is a core module for the postgraduate modular finance scheme. The module has two parts. The first part provides an underpinning and understanding of numerical techniques used in the business and finance world to aid strategic decision making. It aims to provide students with the accounting, mathematical and statistical foundations that are necessary in the areas of accounting and finance. The second parts deals with an understanding of research methodology and the research methods and skills that the students will need to complete their research project successfully during the summer period.

Portfolio Theory and Investment Banking

30 credits

During this module, you will gain a thorough understanding of modern portfolio theory and its implications for asset pricing, asset management, and investment decisions associated with risk management. The main topics covered include:

  • portfolio diversification;
  • optimal portfolio construction;
  • expected utility theory;
  • capital asset pricing model;
  • arbitrage pricing theory with application;
  • the formulation and implementation of various active and passive investment strategies; and
  • the analysis and management of risks associated with particular strategies.

This module also looks at the different types of investment banks and the strategies they employ. You will cover:

  • investment banks;
  • private equity investment - types and techniques;
  • debt and equity underwriting by investment banks;
  • trading techniques;
  • mergers and acquisitions;
  • securitisation;
  • hedge funds;
  • mutual funds and other funds; and
  • wealth management, and clearance and settlement.

You will construct and manage investment portfolios for a specific period and present the results. You will use the dedicated Bloomberg Trading Room and software packages to develop your practical experience of industry standard systems and use real, live data.

Core module

Research Project

30 credits

This module will begin in Semester two, and is completed over the summer. It is an independent research project that you will work on with the supervision of an academic staff member with expertise in your chosen area. To complete this module, you will need to identify an issue to investigate, analyse the issue and structure your approach. You will need to:

  • examine relevant source material;
  • carry out your own research (including collecting an analysing original data, or analysing existing data in an original way); and
  • produce an action-oriented report based on your findings.

The professional placement year is optional. It takes place after the full time year. It allows students to do a 12-month work placement as part of their course. The work placement is an assessed part of the course and is therefore covered by a Tier 4 visa.

Find out more about the postgraduate work placement scheme.

Core module

Professional Placement

120 credits

The Professional Placement module is a core module for those students following a Master's programme that incorporates an extended professional placement that follows completion of the first 180 credits of taught modules and project or dissertation. It provides students with the opportunity to apply their knowledge and skills in an appropriate working environment, and to develop and enhance key employability skills and subject specific skills in their chosen subject.

It is the responsibility of individual students to locate and secure a suitable placement opportunity; this will normally involve one placement which must be completed over a minimum period of 10 months and within a maximum of 12 months. The placement must be approved by the module leader prior to commencement to ensure its suitability.

The information above reflects the currently intended course structure and module details. Updates may be made on an annual basis and revised details will be published through Programme Specifications ahead of each academic year. The regulations governing this course are available on our website. If we have insufficient numbers of students interested in an optional module, this may not be offered.

After you graduate

This course can typically help lead to careers for example in investment banking, finance, insurance, risk control, compliance and regulation.

Typical roles may include investment manager, risk controller, compliance officer, risk officer, investment analyst and consultant.

Graduates have gone on to work for Moody's Analytics, Ernst & Young, Nordea, Deutsche Asset & Wealth Management, Protiviti Ltd, Gulf International Bank, Danske Bank, Barclays and Accenture.

Entry requirements

Typical offer

We welcome applications from anyone with a good honours (or equivalent) in any relevant discipline. If you do not have an honours degree, you will need to show us evidence that you know enough about the relevant subjects to understand the course materials - for example, a professional qualification, training or work experience in a relevant field (contact the Postgraduate Admissions Team to find out more).

Pre-Masters programme

If you don't meet these entry requirements, our Pre-Masters programme can prepare you for the course.

International

Please note: most students from countries outside the European Union/European Economic Area and classified as overseas fee paying, are not eligible to apply for part-time courses due to UK student visa regulations. For information on exceptions please visit the UKCISA website or email our CAS and Visa Compliance team.

All non-UK applicants must meet our English language requirement, which is Academic IELTS of 6.5 overall with no element below 5.5. Make sure you read our full guidance about English language requirements, which includes details of other qualifications we consider.

Applicants who do not meet the English language requirements could be eligible to join our pre-sessional English language course.

Applicants from a recognised majority English speaking countries (MESCs) do not need to meet these requirements.

Teaching and assessment

Guided independent study

When not attending timetabled sessions you will be expected to continue learning independently through self-study. This typically will involve reading journal articles and books, working on individual and group projects, undertaking preparing coursework assignments and presentations, and preparing for exams. Your independent learning is supported by a range of excellent facilities including online resources, the library and CANVAS, the online virtual learning platform.

Support for postgraduate students

As a student at Kingston University, we will make sure you have access to appropriate advice regarding your academic development. You will also be able to use the University's support services

Your workload

Type of teaching and learning

Year 1

  • 19% of your time is spent in timetabled teaching and learning activity

Professional Placement Year

  • 100% of your time is spent on guided independent study and placement

Contact hours may vary depending on your modules.

Year 1

Professional Placement Year

Year 1
  • Scheduled teaching and learning: 364 hours
  • Guided independent study: 1586 hours
Professional Placement Year
  • Guided independent study: 50 hours
  • Placement: 1150 hours

How you will be assessed

Assessment typically comprises exams (eg test or exam), practical (eg presentations, performance) and coursework (eg essays, reports, self-assessment, portfolios, dissertation). The approximate percentage for how you will be assessed on this course is as follows, though depends to some extent on the optional modules you choose:

Year 1

Professional Placement Year

Year 1
  • Coursework: 84%
  • Exams: 12%
  • Practical: 4%
Professional Placement Year
  • Coursework: 100%

Feedback summary

We aim to provide feedback on assessments within 20 working days.

Class sizes

You will be part of an intimate cohort of students which supports dedicated academic guidance and advice and the opportunity to build a life-long network of colleagues. Some modules are common across other postgraduate programmes therefore you will be taught alongside students who are on these courses within the Business School.

Who teaches this course?

You will be taught by an experienced teaching team whose expertise and knowledge are closely matched to the content of the modules on this course. The team includes senior academics and professional practitioners with industry experience. The following group of staff members are currently involved in the delivery of different elements of this course. This pool is subject to change at any time within the academic year.

Fees for this course

Home and European Union 2020/21

  • MSc full time £11,280

Overseas (not EU) 2020/21

  • MSc full time £16,000

Fees for the optional placement year

If you choose to take a placement as part of this course, you will be invoiced for the placement fee in Year 2. Find out more about the postgraduate work placement scheme and the costs for the placement year.


Funding and bursaries

Kingston University offers a range of postgraduate scholarships, including:

If you are an international student, find out more about scholarships and bursaries.

We also offer the following discounts for Kingston University alumni: